Prestasi ties up with Cisco

Prestasi ties up with Cisco

SINGAPORE (Dow Jones): IPCO International Ltd. said on Tuesday PT Prestasi Cipta Pertiwi, the company it is in the process of acquiring, has signed a memorandum of understanding with PT Cisco Systems Indonesia, the Indonesian unit of Nasdaq-listed Cisco Systems Inc..

Under the MOU, the companies will discuss forming an alliance to build an Internet protocol communications infrastructure in Indonesia.

The alliance is likely to be formalized within 30 days, IPCO said in a statement.

On April 25, IPCO signed a sale and purchase agreement to acquire a 70 percent stake in PT Prestasi, which is in the process of acquiring licenses in Indonesia for broadband services, Internet access services and other e-commerce projects.